Benefits Specialist

Company: Wipro Ltd.
Location: Plano
Posted on: June 24, 2022

Job Description:

The Benefits and Comp specialist for the US will be part of the Global Benefits team that consist of 15 employees. This role is a great opportunity for someone that is looking to elevate their level of Benefits and Comp experience they already possess. The role reports into the Senior Human Resources Manager and is based on the East Coast. The purpose of this role is to analyze/design/deploy compensation and employee benefits across areas of financial, physical, and emotional well-being such that they act as an enabler for employees to work better. Manage medical, accident, life and parental insurance policy related activities Responsibilities: Renew policy performance of previous year with vendor Review annual health checkup eligibility based on band and age by working with IS and insurer. Analyze decisions regarding premium rates and other enhancements by working with HRSS and MARSH (external vendor) to understand nature of claims, any complaints and escalations and review vendor performance. Communicate and work with IS team to implement the change Communicate and socialize policy changes with employees through on the ground awareness sessions, calls Send individual mailers/conduct sessions with employees about insurance policies and the renewal window to renew insurance. Work with the legal and tax team to review the benefits, undertakes market benchmarking and adopts necessary changes into the WBP. Work with HRSS to fix loopholes if any and work with legal/tax/HRSS payroll team for ESI computation, Eligibility/Payout details and Communication to employees moving in and out of ESI Manage medical, accident, life and parental insurance policy related activities Renewal/Review of Insurance to ensure Wipro offers an Insurance policy that is better as compared to those directly available in the market in terms of benefits, cost saved etc. This covers medical, accident, life and parental health insurance. -Renew policy performance of previous year with vendor -Analyze decisions regarding premium rates and other enhancements by working with HRSS and MARSH (external vendor) to understand nature of claims, any complaints and escalations and review vendor performance. -Based on above analysis, close the contract with insurer by working with CPO Policy Changes -Based on policy review arrive at decisions regarding possible policy changes if necessary: -Communicate and work with IS team to implement the changes Communicate and socialize policy changes with employees through on the ground awareness sessions, calls Communication -Send individual mailers/conduct sessions with employees about insurance policies and the renewal window to renew insurance. -Close previous cases by working with MARSH and Medi Assist. Reporting: Publish daily status reports on renewal of insurance - number of people across bands, type of renewal etc. Manage Medical Assistance Scheme (MAS) -Manage MAS related expenses that include: Domiciliary expenses such as OTC medicines, spectacles, contact lenses, premium payments, critical illnesses -Review annual health checkup eligibility based on band and age by working with IS and insurer. -Review and reduce loss ratio (Lump sum claimed/Nominal Amount) through band wise eligibility review, claims received etc. This should be less than 100%. Review and deploy Wipro Benefits Plan (WBP) -Wipro Benefits Plan (WBP) is a bouquet of tax exempted benefits which includes allowances for food, child education, LTA, Car (C1 and above), phone, wifi etc. This role works with the legal and tax team to review the benefits, undertakes market benchmarking and adopts necessary changes into the WBP. Other benefits: Reasonable Accommodation: Review and manage reasonable accommodation cases Drive Retirals Utilization -NPS: Drive utilization by sending mailers to employees about savings for retirement -Interface with vendors to manage funds -Look into PF/Gratuity escalations with legal/tax -Obtain payout for the year as determined by Controllership -Look after disbursement of Survivor benefit to Nominee/Dependent whenever required Review and Allocate Allowances -On-Call, Stand by allowance, local onsite Shift Allowance and Comp-off leaves -Review case by case and give allowance accordingly -Work with HRSS to fix loopholes if any -Medical Allowance - ESI -Work with legal/tax/HRSS payroll team for -ESI computation -Eligibility/Payout details -Communication to employees moving in and out of ESI -Travel related reimbursements -Review limits and policy clauses by working with Travel team and HRSS -Perform market benchmarking and cost-benefit analysis -Manage allocation of daily allowances such as: Band wise allocation of reimbursement for Relocation, company initiated transfer, new joinees etc. by working with vendors and the CPO -Manage allowances for campus recruits in the first week of joining -ESI computation - Eligibility/Payout details -Communication to employees moving in and out of ESI Miscellaneous Loan/Salary Advances -Review number of employees availing for loans -Perform cost-benefit analysis and market benchmarking -Support rebadging and M&A -Provide policy / benefit comparison -Benefits Rationalization/Harmonization: Recommend actions and enable Wipro policies for the set of rebadged employees as per agreed timelines -Furniture and Electrical Equipment (FnE) benefits: -Manage FnE benefits for C1 and above employees as per pre-defined amount limits -Facilitating counselling training for Wipro volunteers as a part of Mitr -Enable Wipro employees to take up counselling by engaging them with professional counsellors through monthly training sessions Stakeholder Interaction: Stakeholder Type Stakeholder Identification Purpose of Interaction Internal HR Heads and SPOCs Budget review, Policy / benefit communication Legal Team Compliance related matters, Benefit sign off HRSS and AMG Policy updates, application management, query resolutions, portal enhancements Corporate Communications Policy communication and branding Finance/Controllership Team For taxation, provisioning, etc. IS Team Portal maintenance and changes / additions GWT For rebadging CPO Contracting External Vendors Proposal evaluation, yearly planning, enhancements Display Lists the competencies required to perform this role effectively (Please refer Annexure for definitions of competencies) Functional Competencies Strategic Alignment with business Strategy Linkage Talent Supply Global Mobility Job and Pay Design High Performance Rewards and Recognition Employee Relationship Employee Communication Benefits Design Employee Relations Service Delivery Legal/Statutory Compliance and Risk Mitigation Vendor Management Technology Technology Use and Optimization HR Analytics Metrics and Analytics Behavioral Competencies Strategic Perspective Execution Excellence Passion for Results Effective Communication Stakeholder Management Collaboration and Negotiation Client Centricity Problem Solving and decision making Learning Agility Bachelor's Degree or equivalent combination of education and experience 5-10 years of experience working for a BPO or Technology company is a plus. Execution Excellence-Ensures high-quality and cost-effective output from self and team in line with end objectives, business needs and policy adherence Develops relevant HR initiatives in line with the business strategy, and guides the team to apply them effectively Execution Excellence-Ensures high-quality and cost-effective output from self and team in line with end objectives, business needs and policy adherence Passion for Results-Urges team members to set and achieve stretch goals and role models the same. Encourages follow through and perseverance on tasks, and monitors the same by supporting on end-to-end task completion and troubleshooting Stakeholder Management: Guides the team to build rapport with all relevant internal and external stakeholders Effective Communication: Demonstrates strong verbal and written communication skills and the ability to listen with empathy, engage the audience effectively, create impact, and connect with others Client Centricity: Focuses the team's efforts on meeting the needs of internal and external customers with a constant view to understanding their mindset and designing initiatives in line with their needs Problem Solving and Decision Making: Applies reasoning and systems thinking to analyse patterns from large amounts of data, and directs others to do the same. Takes clear action in problem situations and accepts onus for difficult decisions and team decisions, while conducting a risk-benefit analysis Collaboration: Builds and leverages personal networks across multiple stakeholders Learning Agility: Demonstrates the ability and willingness to learn, upskill and meet changing expectations by keeping pace with industry developments, HR best practices and trends

Keywords: Wipro Ltd., Plano , Benefits Specialist, Accounting, Auditing , Plano, Texas